DekaBank Deutsche Girozentrale Boosts Stake in Landstar System, Inc. (NASDAQ:LSTR)

DekaBank Deutsche Girozentrale increased its stake in Landstar System, Inc. (NASDAQ:LSTR - Free Report) by 22.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 31,691 shares of the transportation company's stock after buying an additional 5,876 shares during the quarter. DekaBank Deutsche Girozentrale owned approximately 0.09% of Landstar System worth $5,905,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in LSTR. Massmutual Trust Co. FSB ADV lifted its stake in shares of Landstar System by 108.8% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 142 shares of the transportation company's stock worth $26,000 after buying an additional 74 shares during the last quarter. Mather Group LLC. boosted its holdings in shares of Landstar System by 183.5% during the second quarter. Mather Group LLC. now owns 394 shares of the transportation company's stock worth $76,000 after acquiring an additional 255 shares during the period. Quest Partners LLC bought a new position in shares of Landstar System during the second quarter worth approximately $73,000. Whittier Trust Co. of Nevada Inc. grew its holdings in Landstar System by 431.3% in the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 441 shares of the transportation company's stock valued at $83,000 after buying an additional 358 shares in the last quarter. Finally, Fidelis Capital Partners LLC bought a new position in Landstar System during the 1st quarter worth $86,000. 97.95% of the stock is owned by institutional investors.

Landstar System Trading Up 0.8 %

Landstar System stock traded up $1.43 during trading hours on Friday, reaching $177.20. 196,742 shares of the company's stock were exchanged, compared to its average volume of 259,902. The firm has a market capitalization of $6.28 billion, a PE ratio of 30.24 and a beta of 0.80. Landstar System, Inc. has a twelve month low of $165.39 and a twelve month high of $201.40. The company has a quick ratio of 2.17, a current ratio of 2.21 and a debt-to-equity ratio of 0.04. The firm's 50 day simple moving average is $183.19 and its 200 day simple moving average is $182.36.

Landstar System (NASDAQ:LSTR - Get Free Report) last posted its quarterly earnings results on Tuesday, October 29th. The transportation company reported $1.41 earnings per share for the quarter, missing the consensus estimate of $1.46 by ($0.05). The company had revenue of $1.21 billion during the quarter, compared to the consensus estimate of $1.22 billion. Landstar System had a net margin of 4.32% and a return on equity of 20.68%. The company's revenue for the quarter was down 5.8% on a year-over-year basis. During the same period last year, the firm posted $1.71 earnings per share. Research analysts predict that Landstar System, Inc. will post 5.77 earnings per share for the current year.

Landstar System Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Tuesday, November 19th will be given a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a dividend yield of 0.81%. The ex-dividend date is Tuesday, November 19th. Landstar System's payout ratio is presently 24.70%.

Analysts Set New Price Targets

Several equities analysts recently commented on LSTR shares. JPMorgan Chase & Co. upped their price target on shares of Landstar System from $184.00 to $188.00 and gave the company a "neutral" rating in a research note on Wednesday. Stephens dropped their price objective on Landstar System from $190.00 to $180.00 and set an "equal weight" rating for the company in a research report on Wednesday. Raymond James lowered their target price on Landstar System from $205.00 to $195.00 and set an "outperform" rating for the company in a research note on Wednesday, July 31st. Benchmark reissued a "hold" rating on shares of Landstar System in a report on Wednesday, July 31st. Finally, Wolfe Research cut shares of Landstar System from an "outperform" rating to a "peer perform" rating in a research report on Thursday, July 11th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $174.25.

Landstar System Company Profile

Landstar System, Inc provides integrated transportation management solutions in the United States, Canada, Mexico, and internationally. It operates through two segments: Transportation Logistics and Insurance. The Transportation Logistics segment offers a range of transportation services, including truckload and less-than-truckload transportation, rail intermodal, air cargo, ocean cargo, expedited ground and air delivery of time-critical freight, heavy-haul/specialized, U.S.-Canada and U.S.-Mexico cross-border, intra-Mexico, intra-Canada, project cargo, and customs brokerage, as well as offers transportation services to other transportation companies, such as third party logistics and less-than-truckload services.